crop insurance News

Arthur J. Gallagher Acquires Australian Insurance Broker AgriRisk Services

Arthur J. Gallagher & Co. announced the acquisition of Australian insurance broker AgriRisk Services Pty Ltd. Terms of the transaction were not disclosed. Headquartered in North Sydney, New South Wales with offices in Tamworth, NSW and Toowoomba, Queensland, AgriRisk Services …

Tokio Marine’s ProAg to Acquire AmTrust Financial’s Crop Insurance MGA

Producers Ag Insurance Group Inc. has agreed to acquire Leawood, Kan.-based managing general agent AmTrust Agriculture Insurance Services. The deal, which is subject to regulatory approvals, is expected to close by May 1. Terms were not disclosed. AmTrust Ag, a …

Farmers Grow to Like Crop of Technologies Helping Them Manage Weather Risk

When surprise hailstorms hit the 6,000 acres Trevor Scherman plants each year with peas, wheat, canola and lentils, his first move isn’t to his truck to assess the damage. These days, it’s to his iPad. Nine mini-weather stations from the …

Census: Number of Kansas Farms Drops 5% in 5 Years

The government’s latest Census of Agriculture for Kansas shows the number of farms in the state has dropped 5% from the count taken five years earlier. The National Agricultural Statistics Service reported Thursday that there were 58,569 farms in Kansas …

Lloyd’s Syndicate Ascot Insures Farmers in 16 Nations Against Crop-Price Volatility

Farmers can now for the first time insure their produce against price volatility as easily as insuring their homes, with a global platform based on hundreds of niche commodity indexes, underwritten by a Lloyd’s of London syndicate. Crop insurance has …

Hub International Acquires Assets of Minnesota’s Corey Steinbach Insurance Agency

Chicago-based global insurance broker, Hub International Limited (Hub), has acquired the assets of Corey Steinbach Insurance Agency LLC (Corey Steinbach Insurance) in Felton, Minnesota. Terms of the transaction were not disclosed. Corey Steinbach Insurance is a full-service firm specializing in …

Government Relief Bypasses Farmers Who Lost Stored Crops in Floods

The Black Hawk military helicopter flew over Iowa, giving a senior U.S. agriculture official and U.S. senator an eyeful of the flood damage below, where yellow corn from ruptured metal silos spilled out into the muddy water. And there’s nothing …

1 Million Acres of Midwest Farmlands Flooded as Corn Planting Deadlines Approach

At least 1 million acres (405,000 hectares) of U.S. farmland were flooded after the “bomb cyclone” storm left wide swaths of nine major grain producing states under water this month, satellite data analyzed by Gro Intelligence for Reuters showed. Farms …

Africa Re Joins World Bank’s IFC to Build Crop Insurance Market for Nigeria’s Farmers

The International Finance Corp. (IFC), a member of the World Bank Group, announced it has signed an agreement with Africa Re, the pan-African reinsurance company, to help small holder Nigerian farmers more easily access insurance to protect their crops and …

Farmers in Oklahoma Fear Impact of Government Shutdown

The ongoing government shutdown could soon have a negative impact on Oklahoma farmers and ranchers, who are facing limited access to important data and funding sources, according to agriculture experts. The U.S. Department of Agriculture is offering limited statistical services …